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ACQUISITION | 9 Months Ended
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Sep. 30, 2020
Business Combinations [Abstract] |
ACQUISITION | ACQUISITIONS 2020 Acquisitions — During the nine months ended September 30, 2020, the Company completed two acquisitions with an aggregate purchase price of $22,526 including contingent consideration with an acquisition-date fair value of $5,292. The Company committed to making contingent consideration payments with a maximum amount payable of $18,582 subject to attainment of specified performance targets in the first and second calendar years after the respective acquisition dates. These acquisitions increased EPAM’s software and service capabilities and expanded EPAM’s offerings in financial services as well as added $7,280 of intangible assets, consisting mainly of customer relationships. Revenues generated by these acquisitions totaled $1,245 and $3,478 during the three and nine months ended September 30, 2020, respectively. Pro forma results of operations have not been presented because the effect of these acquisitions on the Company’s condensed consolidated financial statements was not material individually or in aggregate. test IO — During the second quarter of 2020, the Company finalized the fair value of the assets acquired and liabilities assumed in the acquisition of test IO. During 2020, the Company recorded insignificant purchase price adjustments to various accounts with corresponding net decreases to goodwill of $226. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the date of acquisition as updated for any changes as of June 30, 2020 for test IO:
|  | test IO
Cash and cash equivalents |  | $ | 663 |
Trade receivables and contract assets |  | 621 |
Prepaid and other current assets |  | 150 |
Goodwill |  | 11,926 |
Intangible assets |  | 6,219 |
Property and equipment and other noncurrent assets |  | 305 |
Total assets acquired |  | $ | 19,884 |
Accounts payable, accrued expenses and other current liabilities |  | $ | 993 |
Other noncurrent liabilities |  | 1,568 |
Total liabilities assumed |  | $ | 2,561 |
Net assets acquired |  | $ | 17,323 |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
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Period Type: | duration